Markets end flat after choppy session; Metals, auto stocks shine, IT slide

Stock market highlights on March 18: Choppiness continued in the broader markets, too, with the BSE MidCap and Smallcap indices settling flat after see-sawing between gains and losses

11:27 AM

Coforge slips 5% as board approves Rs 3,200 crore fund raise

In the past one month, the global digital services and solutions provider's stock has underperformed in the market falling by 14 per cent. In comparison, the S&P BSE Sensex was down by 0.04 per cent. Read

11:13 AM

Indian govt bond yield at more than two-week high as US peers jump

US bond yields rose in all five trading sessions last week, with the 10-year yield jumping 22 basis points, marking its biggest rise in five months. The yield is hovering around the critical level of 4.30 per cent, a breach of which could lead to more gains. READ MORE

11:00 AM

Markets pricing NDA win in LS polls; eyeing budget proposals now: Analysts

"It should be assumed that Prime Minister Narendra Modi’s goal will be to win a record number of seats for his BJP party. Such an electoral outcome is no longer far-fetched. As for the Congress Party, the dominant political party in India since independence in 1947, it faces an existential crisis," Chris Wood said.READ MORE

10:49 AM

Government CPSE dividend collection hits record high of Rs 61,149 crore

The 2023-24 Interim Budget projected dividend collections of Rs 50,000 crore, which surpassed the initial target of Rs 43,000 crore. During the first half of March alone, dividend receipts amounted to nearly Rs 10,000 crore. The revised estimate for miscellaneous receipts for the current financial year also stands at Rs 30,000 crore. READ MORE

10:34 AM

Adani Group shares trade weak; Total Gas, Ports, Energy slip up to 8%

On its part, the Adani Group has said that they were not aware of any investigation against the chairman. "As a business group that operates with the highest standards of governance, we are subject to and fully compliant with anti-corruption and anti-bribery laws in India and other countries," Adani Group said in an emailed statement, Bloomberg reported. READ MORE

10:22 AM

ALERT :: India imposes anti-dumping duties on Chinese alloy wheels, says report

>> Enkei Wheels (India), Wheels India in focus

10:10 AM

Market Check :: Benchmarks choppy in intraday deals

9:59 AM

Anup Engg surges 15% as board mulls bonus share; zooms 110% so far in FY24

The Anup Engineering Ltd caters to wide range of process industries including oil & gas, petrochemicals, LNG, hydrogen, fertilizers, chemicals/ pharmaceuticals, power, water, paper & pulp and aerospace with its extensive product range of heat exchangers, reactors, pressure vessels, columns & towers, industrial centrifuges & formed components. READ MORE

9:49 AM

Comment :: 3 events that will shape the markets in near-term

The week ahead is likely to be highly volatile. Many events like the US Fed meeting outcome on Wednesday, the spike in the US 10-year bond yield to 4.3%, and the possible Sebi directives based on the stress tests in mid and small cap schemes will influence the market in the near-term.

US Fed
If the Fed message has any slightly hawkish tone in response to the recent stubborn inflation trend, that would be negative for the mother market and consequently for other markets too.

The spike in US 10-year bond yield to 4.3% is negative for foreign portfolio flows.

Mid, small-caps

The concern regarding the elevated valuations in the mid and smallcaps continues despite the stability witnessed in these segments last Friday.

Strategy
Investors may adopt a wait and watch strategy and may buy largecaps in capital goods, banking, telecom and automobiles on dips.

Views by:  V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

9:38 AM

RailTel gains 3% on order win worth Rs 482 crore

9:35 AM

Droneacharya rallies 5% on winning contract to supply IT hardware

>> It has secured a contract to supply IT hardware for the Indian Army's drone lab in J&K.

9:33 AM

KPI Green Energy hits 5% upper circuit on winning 100 MWA solar project

>>  It has emerged as a successful bidder for a 100 MWA solar power project at Maharashtra State Power Generation Co (MAHAGENCO).

9:32 AM

LIC okays wage hike for employees; stock off lows

>> LIC has planned to provide a 17 per cent wage hike for its employees, effective August 1, 2022. 

9:29 AM

Torrent Power zooms 4% on winning LoA for a wind & solar hybrid project

>> It has received a Letter Of Award for a 300 MW wind and solar hybrid project with a tariff of Rs 3.65/kWh. The contract period shall be 25 years.
 

9:27 AM

Lupin in red as Aurangabad facility receives 1 observation from USFDA

>> : The company said US FDA inspected its manufacturing facility at Aurangabad from March 6 to March 15, 2024. The inspection closed with the issuance of a Form 483 with one observation.